Seamec Approves Sale of Vessel "SEAMEC GALLANT" for USD 9.5 Million
Seamec Limited's Board approved the sale of its subsidiary's vessel "SEAMEC GALLANT" for USD 9.5 million (approx. ₹79.2 crore). Shareholder approval is required via Special Resolution at the upcoming AGM.
The sale of a vessel for USD 9.5 million is a material transaction for the company, impacting its asset base and potentially its cash flow.
The sale of an asset for a significant amount is generally viewed positively as it can improve the company's financial position.
Seamec Limited announced on July 14, 2026, that its Board of Directors, in a meeting held on the same day, approved the sale of the vessel “SEAMEC GALLANT”. This vessel is owned by SEAMEC International FZE, a wholly-owned subsidiary of Seamec Limited.
The buyer of the vessel is M/s Bo Yuan Han Limited, Hong Kong, and the gross consideration for this sale is USD 9.5 million (approximately ₹79.2 crore). The Board has recommended this transaction for the approval of the shareholders via a Special Resolution during the upcoming Annual General Meeting (AGM). A notice for the AGM will be dispatched to shareholders in due course and simultaneously filed with the stock exchanges.
The Board meeting commenced at 17:00 hours and concluded at 18:20 hours.
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Seamec Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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